In 2014, nearly 33% of local family businesses planned to close or sell off their companies, due to such reasons as inadequate succession planning. This is higher than the global average of 20%. Although about 70% of local family businesses have a succession plan, only 11% have a complete and holistic one. Many family businesses also do not have effective procedures in place to address unique family business concerns, from dealing with family member conflicts to professionalizing their business. Ultimately, this leads not only to the potential loss of the family’s business, but also the loss of the family’s legacy.
To aid family business owners in preserving their family legacy, SBF is co-organising a complimentary information session as an introduction to Family Business Advisory. The session will touch on such topics as creating family charters, drafting succession plans and conflict resolution. The session is open to all family business owners and their family members.
Date: Wednesday, 17 February 2016
Time: 2.00 pm - 3.00 pm (Registration begins at 1.45 pm)
Venue: SBF Seminar Room 2, Level 21, 10 Hoe Chiang Road, #21-01 Keppel Towers, Singapore 089315